China’s securities regulator on Wednesday slapped a record 5.5 billion yuan ($870.87 million) fine on a Chinese company for share price manipulation, the official Shanghai Securities News reported.

The penalty on Bei Ba Dao Group, announced by the China Securities Regulatory Commission (CSRC) at a press briefing in Beijing, underscores Beijing’s determination to root out misbehaviour in the country’s stock market.

CSRC Chairman Liu Shiyu has stepped up supervision of the stock market – once likened by some to a casino, to protect the interest of retail investors, and attract foreign investors.
Starting June, China-listed “A-shares” will be included in MSCI’s emerging market index, projecting the market into global limelight.